"Protection Guru has transformed how we are able to present clients with their options for protection products. The cheapest plans are rarely the best value. Using Protection Guru we have found that around 75% of people would rather pay a little more to get a better value plan.

Adopting the system is a key part of our preparation for Consumer Duty. The addition of replacement business comparisons for critical illness, including all historic Vitality plans, is a huge bonus. Over the last decade, critical illness plans have got better and better, so there is frequently a compelling case for putting new products in place. When it is the right thing to do, the system gives us all the evidence we need to compliantly justify changing providers. Equally it makes it clear which plans need to be left in place.

Add to this, the fact that Critical illness definitions both historic and new, are continually assessed and rated by practicing doctors, it really is the perfect journey for Critical Illness Advice"

Protection Guru has made a real difference to how I'm able to present protection options to clients. Letting me have a conversation around best value, rather than simply price.

By having the ability to source by best quality, as well as lowest price, it allows the client to see for themselves the additional value they can gain by spending just a few pounds more. This is invaluable as Consumer Duty requires us all to think in terms of best value for clients, not just lowest price. Price only comparisons will struggle to meet this new standard without additonal work from the adviser, so it’s great to have a new system in place now that takes the stress away from the research process. The modest increases in premium that results from taking better value products will also generate additional revenue, so the service could literally pay for itself.

The extension to offer a comparison of historic critical illness plans based on an analysis by qualified medical professionals, including the complex PruProtect and Vitality plans that not been included on legacy comparison systems in the past, is a massive step forward. The complexity of critical illness wordings is such that these can really only be fully assessed by doctors, as no adviser would want to jeopardize a cleints ability to claim by replacing a plan with something that offers less protection than they currently enjoy. This opens the door for us to provide better quality reviews of in-force plans, all using one system, rather than having premium, quality and legacy plan information spread across multiple systems. Given the major enhancements to policy wording is in recent years this is a great extra benefit we can offer our clients to ensure they are paying for the best protection they can comfortably afford.